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A payment gateway consists of several key players who manage the payment process from beginning to end. When a customer visits your website and pays for their order, their payment goes through a multi-step process before being completed.
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How Does a Best Offshore Payment Gateway Function? A payment gateway consists of several key players who manage the payment process from beginning to end. When a customer visits your website and pays for their order, their payment goes through a multi-step process before being completed. Before we get into the process, let's talk about who is involved in a payment gateway: Visit Website : https://emerchantpro.com/ Mail Us- onboarding@emerchantpro.com Follow on:
Who is involved in a payment gateway? Merchant- The merchant in this process is a company that sells a product or service to customers. Customer- A customer is a person or entity who wishes to buy a product or service from the merchant. They also have cards. Issuing Bank- An issuing bank is a financial institution where the customer has an account. It is referred to as the 'issuing bank' because it has issued the debit or credit card to the customer on behalf of the card scheme (Mastercard or Visa).
Acquirer- The acquiring bank is the financial institution with which the merchant has an account. When a transaction occurs in the merchant's store, the acquiring bank typically forwards it to the issuing bank The operation of a payment gateway differs depending on whether it is an online portal or an in-store gateway. Application programming interfaces (APIs) enable communication between the payment processing network and the merchant's website. An application programming interface is a collection of programming codes that are in charge of querying data and responding to it. It then transmits commands from one platform to another
